Common use of DELAY FEE Clause in Contracts

DELAY FEE. If at any time any Delay Fee (as defined in the Registration Rights Agreement) becomes payable by the Company pursuant to the Registration Rights Agreement, the Company shall duly and promptly (i) deliver to the Trustee an Officers’ Certificate to that effect and stating (a) the amount of such Delay Fee that is payable and (b) the date on which such Delay Fee is payable pursuant to the terms of the Registration Rights Agreement and (ii) pay to each Holder such Delay Fee in such amount and on such date as set forth in the Registration Rights Agreement. Unless and until the Trustee receives such an Officers’ Certificate, the Trustee may assume without inquiry that no Delay Fee is payable.